Nigeria’s Housing Initiative Targets Economic Boost and Poverty Reduction

By Jemimah Wellington, JKNMedia Reporter

HOUSING CONSTRUCTION has been spotlighted as a pivotal force for economic growth and poverty alleviation in Nigeria.

Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, stressed this during the ceremony for the 250-unit Renewed Hope Estate in Akwa Ibom on June 28, 2024 where he noted that President Bola Ahmed Tinubu’s housing initiative is poised to transform the economy and lift millions out of poverty.

Dangiwa also said the housing sector’s potential to drive a $1 trillion economy, is due to the president’s focused efforts to tackle the nation’s housing deficit adding that the Renewed Hope Estate is part of a broader initiative of the Renewed Hope Cities and Estates programme, which began with a 3,112-unit city in Karsana, Abuja, launched in February 2024.

It has seen expansion across several states, including a 500-unit estate in Kano and 250-unit estates in Katsina, Gombe, Yobe, and Sokoto, Arc. Dangiwa noted.

He also said the current phase of the programme, which commenced in Ebonyi on June 26 and proceeded to Abia on June 27, aims to cover eight states, including Delta, Osun, Oyo, Benue, and Nasarawa, with each state receiving 250 housing units.

Dangiwa highlighted that the construction of these estates would turn Nigeria into a vast construction site, with the Akwa Ibom estate comprising 50 units of 1-bedroom bungalows, 150 units of 2-bedroom bungalows, and 50 units of 3-bedroom bungalows, as the housing units are designed to be affordable and expandable, allowing beneficiaries to increase the size of their homes as their financial situation improves.

The minister also pointed out the extensive economic benefits of housing construction, noting that building one housing unit creates an average of 25 direct and indirect jobs.

He adds that the Akwa Ibom project alone is expected to generate employment for over 6,500 people in various trades, from professionals like architects and engineers to masons, plumbers, electricians, and laborers. Unskilled workers on these sites can earn as much as N35,000 per week, translating to approximately N140,000 per month, he boasted.

Dangiwa also lauded the economic activities spurred by construction projects, such as food vendors, suppliers of construction materials, and other local businesses and extended gratitude to the Governor of Akwa Ibom state, Pastor Umo Eno, for providing land for the project at no cost and encouraged other state governors to follow suit.

He further assured that states included in the N50 billion 2023 Supplementary Budget would be part of the 2024 Budget for the Ministry, with plans to build Renewed Hope Estates in all states.

Finally, Dangiwa urged developers, including Trust Global Ltd, Springwell Intercontinental Resources, and Hyousungs Ltd, to adhere strictly to building specifications and warned against substandard work as he affirmed strict enforcement of contracts, including possible legal actions through the EFCC for any non-compliance.

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